A KPMG survey of 753 business leaders across Canada found that only two per cent of organizations are seeing returns on their generative AI investments. More than half of those reported a return on investment of between five and 20 per cent, while nearly one-third said they cannot quantify it. (The Logic)

Talking point: The survey found that 93 per cent of organizations now use AI, up from 61 per cent a year ago. Another KPMG survey suggested that 73 per cent of CEOs plan to allocate between 10 and 20 per cent of their budgets to AI over the next year. That includes hiring more tech talent, buying new generative AI tools, and investing in adoption efforts. The federal government has been pushing for broader use of the technology as a way to strengthen Canada’s economy. But waiting years for these investments to generate value “isn’t realistic in this environment,” Stephanie Terrill, managing partner, digital and transformation at KPMG said in the report. Instead, she argues that organizations need to implement AI faster to begin realizing productivity gains “if we hope to become more economically competitive as a country.”

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